The New Wave of Auctions

Online Auctions

As I have been collecting auctions and sales I have noticed a big uptick in Online Only Auctions.  The shift seems obvious to me, cost.

It is much cheaper to run a auction from your office computer then going “live”.  You take some photos, write a description and wala you have an auction ready to go.  Doesn’t seem it could get any easier then that.

Tips & Tricks for Success

 “You can’t sell anything if you can’t tell anything.” Beth Comstock

Pictures and a good description are key to a successful auction.  Think it about this way:

Description 1: 1996 Ford Pickup, Red.

Description 2:  Classic 1996 Ford F-150 XLT Pickup with less then 80,000 miles, V6 engine, Bed Liner, New Tires…

See the difference?  Why would you buy something if you did not have a good idea of what you are buying?  Make sure you have pictures and make sure your potential buyer knows what they are getting is key!

Promoting your Auction

Without promotion, something terrible happens… nothingP.T. Barnum

If no one knows about your auction or sale how will they know to buy?  You will need to have a plan before you even begin.  If you are just getting started you may need to ask your friends and family for help.  If you have a current clientele make sure they know you are having an auction.

Social Media

Social Media can be your friend with this.  But don’t try to use them all!  Personally I like FaceBook and I’m comfortable with how that works.  But if you prefer Twitter or SnapChat or some other combination use them.

If using FaceBook I would recommend setting up an event instead of just a post.  Then your followers can say they are attending, which will show up in their followers feeds and so on…  A post won’t go very far at all.

Email

Be careful with email, there are Spam Laws, so send email to those that already know you or you have done business with. Keep links to the bear minimum and use a Spam Tester before sending like Mail-Tester.com.  But remember email is useful but is getting less effective as a communication tool.  Take a look at your in-box and think about how much junk you get every day.

Keep it simple and short – one picture max, no-one appreciates their email box being filled to the max from one email.

Customer Service

Southwest Airlines is successful because the company understands it’s a customer service company. It also happens to be an airline.Harvey Mackay

Under standing that your auction\sale is a service is critical.  No one will ever buy from you again if you don’t provide the best service possible.  In fact if your service is not up to par I can guarantee you they will tell others about it.

On average outstanding service will get you 3-4 mentions to a friend or family, bad service will get you 10 – 13.  Treat your customers right and you’ll see the results.

Everyone throws the term around a lot, what is it?  “As they say I know it when I see it.”  But some basic things are this:

  • Do what you say you will!
  • If you are contacted by a customer respond especially to negative comments!  Most people will give you “two thumbs up” if you make the attempt to solve the problem.  Ignoring it is not a option.
  • “The customer is not always right.”  But they do have opinions and make sure their’s is a good one of you!

Understand your bidders!

From what I have seen on sites like Ebay! everyone waits until the last minute to bid.  So don’t get worried, if you are seeing traffic someone out there wants what your selling.

Timing is everything.  Don’t make the auction to long or to short.  A good average seems to be 10-days.  Gives enough time for potential buyers to find it and do some shopping, but not to long that they forget about it.

So good luck with your next auction and if you have questions or comments please send them in to us on our FaceBook page!